1305 Timber Crk

Lindenwold, NJ 08021

$175,000D

2 bd · 2.5 ba · 1,337 sqft · Built 1973 · Condo · Active · 71 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,122/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$301
• HOA: −$433
• Vac / Maint / Mgmt: −$446
• Net cashflow: $25/mo
• Annual: $302/yr
• Cap rate: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• 1% rule: 1.21%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.5-bath condo listed at $175k.
• At list price, monthly cash flow is $25 ($302/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 71 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 68/100 on livability (#312 in NJ) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A, cost of living B; Watch: employment C-, crime D, amenities D-.
• Lindenwold Public School District (suburban): math 4% / reading 25% proficiency, ranked #461 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lindenwold School Five (math 7% / reading 20%, grade F, #1,152 of 1,303 statewide, top 89%, 593 students, 82% FRL); Lindenwold Middle School (math 3% / reading 26%, grade F, #418 of 431 statewide, top 97%, 911 students, 88% FRL); Lindenwold High School (math 2% / reading 37%, grade F, #354 of 399 statewide, top 89%, 727 students, 80% FRL) — zoned schools average 83% FRL vs 68% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: HOA is 20% of rent.
• Market conditions: Rents rising (+3.0%/yr); 242 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); 1,018 units permitted in Camden County in 2024 (509 in 5+ unit buildings).
• Camden County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 26y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $77k; list at $175k implies a 127% gain — meaningful room to come down on a strong offer.
• Cap rate 6.5% vs local median 5.2% in Lindenwold — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 37% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?